Bharat Forge's stock is likely to derate further in the wake of continuous fall in US truck orders. The US class 8 truck order inflows declined 36 percent in March 2016, putting more pressure on earnings.
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Alibaba’s Alipay Will Launch European Expansion This Summer
Alipay is working on a plan to launch services in Europe this summer. The service will make it easier Chinese tourists to make transactions with European merchants using the app.
Yen Hits 17-Months’ High Against US Dollar, Forecast For Further Appreciation
The Japanese yen has reached the top hitting a 17-month high on Tuesday. The appreciation takes place following advice from Japanese Prime Minister for cautious market intervention by authorities. Addition of value to yen cause downward trend in Nikkei average index on the same day leading towards a 18% drop during this year.
Asian markets trade lower as US risk-off sentiment kicks in
Tracking sell-off on Wall Street, Asian markets turned weaker. Renewed growth concerns and effectiveness of central bank policy have worsened the investor sentiment.
Angola Seeks IMF Help as Oil Price Hit The Economy
The second largest oil producer in Africa will start negotiate with IMF next week for a bailout program. Continuous drop of oil price hit Angola economy after years of prosperity from oil production.
Latest News
International Monetary Fund (IMF) has warned that slower growth rates among emerging markets are causing cash outflows and could cause another bout of crisis. Narrowing differential in growth prospects between advanced and emerging economies may add to the crisis situation again.
Alibaba Group has completed acquisition of South China Morning Post. To put a footstep with revealing the acquisition, readers have got free access to the once subscribed online newspaper. The move allows the 113-year-old newspaper to approach towards becoming a global leader in news arena.
Glencore is possibly nearer to a deal with Canda’s largest pension fund to sell 40% stake in its agriculture business. CPPIB has agreed to pay $2.5 billion against a total valuation of $6 billion. However, there is no guarantee that the deal will surely take place.
US oil prices gained 5.18 percent owing to an unexpected drop in domestic crude stockpiles. US crude stocks eased by 4.9 million barrels last week as imported declined.
Nvidia has unveiled its first supercomputer, DGX-1, which uses both alternative intelligence and deep learning technology. The supercomputer, costing around $129,000, by no mean suggests that newer technologies will become cheaper. However, the new GPU has been welcomed by the researchers and potential users considering its widespread prospect.
Yahoo Inc’s revenues may drop by 15 percent for 2016 year, while earnings are also predicted to tumble 20 percent. The global internet company is expected to slash jobs by 1,500 to 9,000 in 2016.
Goldman Sachs-backed consumer finance startup CompareAsiaGroup got its new CEO Sam Allen. In 2015, CompareAsiaGroup closed a Series A round of funding led by Goldman Sachs and is planning to go for a Series B round funding soon.
Nestlé India is again facing controversies with its all-time favorite Maggi noodles. Recent lab tests show that the lead content is within permissible limits unlike monosodium glutamate which exceeds the allowable level.
Starbucks is about to open its biggest coffee restaurant in 2018 and will be known as Starbucks Reserve Roastery and Tasting Room which will be housed by the 170,000 square foot building developed by Aurora Capital Associates and Vornado Realty Trust. It would be the biggest Starbucks coffee shop in the world where customers also get educated about the process how coffees are roasted and brewed from all over the world.
